As a result of increased environmental awareness and growing eco-anxiety concerns, a new demographic of young consumers is emerging, demanding greater transparency about the products they purchase – including skin care and dermatologic products. More frequently, consumers are “choosing to pay a premium for products that are natural or that they ‘perceive to be natural’,” according to a report published on Investopedia.
Coupled with an increased consciousness of ingredient composition, the rise in popularity of natural personal care products has encouraged more consumers to turn to sustainable and eco-friendly products. Research reveals the new demographics is willing to pay more for these sustainably-produced products. The shift toward natural products was deemed the most important trend in the personal care industry in 2018 by global consulting firm Kline & Company projected to be worth $25.1 million in 2025.
Personal Care Market
The rising trend is evident not only in the skincare market but encompasses the general personal care segment which includes a variety of products ranging from hair, skin, oral health products, cosmetics, oils, perfumes, and even baby products. “The interest for personal care and cosmetic preservatives was highest from the skincare segment, followed by medicated skincare and hygiene care products,” noted consulting company Frost & Sullivan in a press release. “Rising demand for natural preservatives for baby care applications is anticipated to further boost the preservatives market towards growth.”
Market leaders – including Aveda Corporation, The Body Shop, and Estée Lauder – are utilizing technological innovations to develop cost-effective eco-friendly product lines in order to remain key drivers of market growth in the forthcoming years.
Market Growth
Expected to bolster the growth of the protein ingredients market until 2027, the rise in demand for eco-friendly products is anticipated to continue in the coming years. Per data from the latest market report, the dermatology clinic and cosmetic center sector of the aesthetic medicine market is the most attractive end-user segment and is projected to grow at a compound annual growth rate of 8.6% until 2024.
Rising adoption and awareness levels of various aesthetic procedures, as well as a growing acceptance of cosmetic treatments among the population, have pushed the United States to the leading position in the current market. Growing health care infrastructure as well as a rising incidence of skin disorders across the world are factors anticipated to boost the market further increasing demand for aesthetic treatments.
Demand for Eco-Friendly Products
As consumers will increasingly be looking for sustainable and natural options, a spike in the popularity of eco-friendly cosmetics and skincare products is expected and already beginning to occur. Social media influence and the growing natural/eco-friendly trend are projected to boost growth opportunities for manufacturers of such products.
In addition, experts forecast a rise in the demand for biodegradable fillers – favored for their safety profiles – which have occupied the largest share of the dermal filler market in 2017 at approximately 88% . Major industry players such as Allergan are increasingly investing in the development of biodegradable fillers. Furthermore, a growing demand for temporary biodegradable dermal fillers, spurred by an emphasis on cosmetic value and shorter timeframes to achieve results is projected to grow this segment of the market by 6.2% by 2024.
Increasing demand for cosmetic and skincare products that are environmentally conscious and is expected to drive growth in the sustainable personal care product sector for the forthcoming years. Aesthetic medicine clinicians can prepare themselves by investigating potential natural alternatives to common prescription medications and equipping themselves with the knowledge needed to recommend products to their patients who may be in search of sustainable or more natural options.
